CX Viewpoints : Insurance

"Although every industry has its own unique set of intricacies when it comes to delivering on customer experience (CX) expectations, there are some common threads.

Regardless of vertical, consumers continue to want simplified experiences and speedy resolutions. In fact, experience has never mattered more, and consumers are more willing than ever to walk away if their experience expectations aren’t fully met. In this report, CX Viewpoints: Insurance —

A Survey of Retail Customers of Insurance Products, the experiences insurance product customers (primarily Home, Auto, Life, and Disability) are explored from a variety of vantage points.

Drivers of both loyalty and churn are explored, and also included are a number of questions that seek to benchmark the experiences of insurance industry customers against those of other verticals.

Taken as a whole, the results in this research make it clear that the insurance industry is, in many ways, playing catchup with other industry verticals when it comes to CX.

Granted, the types of engagements common to the insurance industry are often trust-driven, more complex, and less transactional, but this should only provide cause for CX leaders in the industry to be even more laser-focused on the end-to-end experience.

It’s also clear that demographics play a significant role in attitudes, expectations, and preferences, so perhaps more than any other industry, brands operating in the insurance space should strive to know their customer and seek to create personalized experiences when it comes to the channels, solutions, and customer tools on offer.

The good news is consumers are very clear on what they want, and they are willing to share those expectations with brands who are interested in listening."